Brokerages Set Forterra Inc (FRTA) PT at $14.88
Shares of Forterra Inc (NASDAQ:FRTA) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.88.
FRTA has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Forterra from a “hold” rating to a “sell” rating in a report on Thursday, June 1st. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. Citigroup Inc. lowered their price target on shares of Forterra from $17.00 to $8.50 and set a “neutral” rating on the stock in a report on Thursday, June 22nd. Barclays PLC restated a “buy” rating and issued a $15.00 price target (down from $18.00) on shares of Forterra in a report on Monday, July 24th. Finally, Royal Bank Of Canada lowered their price target on shares of Forterra from $16.00 to $10.00 and set a “sector perform” rating on the stock in a report on Tuesday, June 27th.
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In related news, CFO William Matthew Brown bought 22,200 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the purchase, the chief financial officer now directly owns 47,501 shares of the company’s stock, valued at $228,004.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John R. Mcpherson bought 23,449 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was bought at an average price of $4.29 per share, with a total value of $100,596.21. Following the completion of the purchase, the director now directly owns 24,579 shares in the company, valued at $105,443.91. The disclosure for this purchase can be found here. Insiders purchased a total of 173,774 shares of company stock valued at $739,476 over the last quarter. 0.33% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in FRTA. Capital World Investors acquired a new stake in Forterra in the 2nd quarter worth approximately $25,249,000. FMR LLC acquired a new stake in Forterra in the 1st quarter worth approximately $31,062,000. Redwood Capital Management LLC acquired a new stake in Forterra in the 2nd quarter worth approximately $7,700,000. Pictet Asset Management Ltd. boosted its stake in Forterra by 45.1% in the 2nd quarter. Pictet Asset Management Ltd. now owns 2,636,865 shares of the construction company’s stock worth $18,960,000 after purchasing an additional 819,647 shares in the last quarter. Finally, Rubric Capital Management LP boosted its stake in Forterra by 134.9% in the 2nd quarter. Rubric Capital Management LP now owns 952,600 shares of the construction company’s stock worth $7,840,000 after purchasing an additional 547,116 shares in the last quarter.
Shares of Forterra (NASDAQ:FRTA) traded up 2.29% on Friday, reaching $4.46. 1,211,759 shares of the company’s stock traded hands. The company’s market cap is $286.35 million. Forterra has a 12-month low of $3.85 and a 12-month high of $22.76. The stock has a 50-day moving average price of $4.28 and a 200-day moving average price of $4.28.
Forterra (NASDAQ:FRTA) last released its quarterly earnings results on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.11). Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. The firm had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million. Equities research analysts anticipate that Forterra will post ($0.50) EPS for the current fiscal year.
Forterra Company Profile
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